Norsk Hydro ASA (OTCMKTS:NHYDY) Sees Significant Drop in Short Interest

Norsk Hydro ASA (OTCMKTS:NHYDY) saw a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 31,326 shares, a decrease of 41.6% from the April 15th total of 53,674 shares. Based on an average daily volume of 307,459 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Norsk Hydro ASA Price Performance

Shares of OTCMKTS:NHYDY traded up $0.11 during trading on Monday, hitting $11.44. 83,255 shares of the company’s stock were exchanged, compared to its average volume of 190,248. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 36.67, a PEG ratio of 0.75 and a beta of 0.96. The business’s 50-day simple moving average is $10.63 and its 200 day simple moving average is $8.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.73 and a quick ratio of 1.14. Norsk Hydro ASA has a 52-week low of $5.37 and a 52-week high of $11.84.

Norsk Hydro ASA (OTCMKTS:NHYDY) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.42 billion. Norsk Hydro ASA had a net margin of 3.11% and a return on equity of 10.52%. As a group, equities analysts predict that Norsk Hydro ASA will post 1.19 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NHYDY. Royal Bank Of Canada raised shares of Norsk Hydro ASA from a “sector perform” rating to an “outperform” rating in a research report on Friday, March 20th. Citigroup lowered shares of Norsk Hydro ASA from a “buy” rating to a “neutral” rating in a report on Monday, May 11th. Kepler Capital Markets lowered Norsk Hydro ASA from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. The Goldman Sachs Group upgraded Norsk Hydro ASA from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Finally, Danske downgraded Norsk Hydro ASA from a “hold” rating to a “sell” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Norsk Hydro ASA has a consensus rating of “Hold”.

Norsk Hydro ASA Company Profile

Norsk Hydro ASA is a Norwegian industrial company with a primary focus on aluminum production and renewable energy. Established in 1905, the company has grown from its roots in fertilizer manufacturing to become one of the world’s largest integrated aluminum producers. Its operations span the full value chain, including bauxite mining, alumina refining, primary aluminum production, and downstream processing of rolled and extruded products.

In addition to its aluminum business, Hydro maintains a significant portfolio of hydropower assets to support its energy-intensive processes.